ECO 365 Week 1 Economic Definitions Worksheet

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ECO 365 Week 1 Economic Definitions Worksheet
ECO 365 Week 1 Economic Definitions Worksheet
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ECO 365 Week 1 Economic Definitions Worksheet

Complete the Economics Definitions Worksheet.

Click the Assignment Files tab to submit your assignment.

Economics – Definitions

 

Complete the following.  Include your references using APA formatting.

 

Write the definition for each of the following:

 

  1. Law of Demand

 

  1. Law of Supply

 

  1. Price Elasticity of Demand

 

  1. Macroeconomics

 

  1. Microeconomics

 

 

 

Identify 2 Products whose demand is price elastic.

 

Which of the following graphs best demonstrates the law of demand?

 

  1. I

  2. II

  3. III

  4. IV

 

Which of the following graphs best demonstrates the law of supply?

 

  1. I

  2. II

  3. III

  4. IV

 

References